Archived Story

Foreclosed-on Franklin plaza sold for $5M

Published 5:55pm Tuesday, February 12, 2013

BY ANDREW FAISON/CONTRIBUTING WRITER

andrew.faison@tidewaternews.com

 

FRANKLIN—The foreclosed-on Farm Fresh shopping center was recently sold at auction for $5 million, according to a real estate transfer at the Southampton County Clerk of Courts.

Bank of America purchased the Armory Drive property in Franklin from Mag II LLC Franklin.

Shirley Norton, spokeswoman with Bank of America, said the foreclosure was uncontested and the bank is reviewing its options for the property. Norton did not want to comment further.

Dinh Phan, the owner of T.J. Nails and Spa, doesn’t know what to expect. Last year, he signed a five-year lease and does not believe his rent will be raised.

“If they do for some reason up my rent, I am out of business,” Phan said.

As of January, no taxes were owed on the property, said Franklin Treasurer Dinah Babb.

 

  • RoyDeSoto

    Maybe it’s a different Franklin. There ARE 18 of them in America.

    Suggest Removal

  • weatherspotter

    The tidewater Lies got it mixed up? The hell you say! LOL

    Suggest Removal

  • geographically challenged

    TJs Nails and Farm Fresh are in Armory Station. Franklin Plaza holds Schewels, CHKD, Auto Zone, Ace, etc. I am sure that Mr. Phan was concerned about his 5 year lease.

    Suggest Removal

  • SandMan

    So, which property is it……Franklin Plaza or Farm Fresh Shopping Center?

    Suggest Removal

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